State Bank of India, the country's largest lender, today raised the benchmark lending rate by 50 basis points to 12.25 per cent. The move makes, home, vehicle and other corporate loans linked with the rate costlier to existing borrowers. However, for new borrowers the base rate, which became effective from July 1 this year, stands at 7.5 per cent. The SBI also increased its fixed deposit rates by up to 150 basis points across various maturities. The decision comes days after the Reserve Bank of India increased its key rates to control rising prices.